Sanwo-Olu Signs Record N4.4trn Lagos Budget into Law

 

Lagos State Governor, Babajide Sanwo-Olu, on Monday assented to the 2026 Appropriation Bill, approving a historic budget of N4.4 trillion for the state’s next fiscal year.

The signing ceremony, held at the Conference Room of Lagos House, Alausa, Ikeja, marked the final legislative step after the State House of Assembly passed the bill earlier in January.

Christened the “Budget of Shared Prosperity,” the financial plan authorises a total expenditure of N4,444,509,776,438, the largest in the state’s history.

Top government functionaries at the event included Deputy Governor Dr. Obafemi Hamzat, Head of Service Mr. Bode Agoro, members of the State Executive Council, lawmakers and senior officials.

While presenting the proposal to the Assembly in November 2025, Governor Sanwo-Olu explained that the budget was designed to drive inclusive growth and ensure equitable distribution of development across Lagos.

“Our mission remains to eradicate poverty and build a Lagos that works for all,” he said, stressing that the administration was committed to delivering a Greater Lagos where prosperity is widely shared.

The governor noted that the fiscal framework is built on four pillars: prioritising citizens’ welfare, expanding modern infrastructure, stimulating sustainable economic growth, and strengthening public institutions.

He added that the priorities align with the state’s T.H.E.M.E.S+ development agenda, which continues to guide policy formulation and public investment.

The 2026 budget is expected to consolidate ongoing projects in transportation, health, education and security, while creating new opportunities for investment and job creation across the state.